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C. Prairie Apartments Housing Partners II, L.P. has met or exceeded all financial goals <br />stated in their original petition for a tax abatement. The initial cost of the project was <br />estimated to be $8,000,000 and the actual cost was $9,850,000. Two new positions have <br />been created and three old positions have been retained as stated in the original petition. <br />E. The project is an outstanding asset to this community. Phase I and Phase II of the <br />project remain 100% occupied with a waiting list attesting to the quality of the project <br />and the management. <br />F. Prairie Apartments Phase I won the 2009 Apartment Association of Indiana's award <br />for Best Affordable Apartment Complex in Indiana. <br />G. Phase I and Phase II of the project remain in good financial standing with 100% of all <br />creditors and vendors. <br />H. All other required documentation has been received from Prairie Apartments Housing <br />Partner's II, L.P. by the required due dates. <br />SECTION II. The foregoing facts, taken together, lead the Common Council to conclude <br />that compelling reasons exist to waive the filing deadline. <br />SECTION III. The Common Council hereby waives the filing deadline of May 15th <br />2011 and pursuant to Indiana Code 6 -1.1- 12.1 -4.8 adopts this resolution that authorizes <br />acceptance. <br />cL J lu -hAJr4 <br />NOT APPROVEd <br />ADOPTS (1 Q J- S u- b S <br />Member of the Common Council <br />Filed in !_.,, <br />s <br />� s <br />ryy� - e <br />CITYCLERKA <br />